Ramaphosa, fellow African leaders in Paris to discuss reviving African economies
Delegates will discuss debt relief and support from the International Monetary Fund through special drawing rights and look at how to provide capital to the private sector on the African continent to support investments that will boost inclusive economic activity, create employment and accelerate the attainment of the United Nations sustainable development goals.
PRETORIA, May 17 (ANA) – South African President Cyril Ramaphosa on Sunday evening headed to the French capital Paris, where he is scheduled to participate in a summit on financing African economies.
“At the invitation of President Emmanuel Macron of the French Republic, the President [Ramaphosa] will join several African heads of state and government as well as leaders of global financing institutions at the Grand Palais Ephémère on Tuesday,” the Presidency said in a statement.
“The purpose of the summit is to support the economic recovery of African countries that have been affected by the health and economic crisis caused by the Covid-19 pandemic. It also aims to foster investments in Africa and avert the risk of excessive debt.”
Delegates will discuss debt relief and support from the International Monetary Fund (IMF) through special drawing rights and look at how to provide capital to the private sector on the African continent to support investments that will boost inclusive economic activity, create employment and accelerate the attainment of the United Nations sustainable development goals.
“The summit … follows a series of global stimulus packages initiatives, including the World Bank’s $14 billion fast-tracking of Covid-19 financing, the African Development Bank’s $10 billion Covid-19 response facility and the International Monetary Fund’s concessional financing and debt relief to assist countries and companies in their response to the pandemic,” the Presidency said.
It said Ramaphosa would also hold bilateral meetings with other leaders on the sidelines to enhance South Africa’s diplomatic relations.
European leaders, representatives of G7 and G20 countries and of international institutions such as the IMF, World Bank and the Organisation for Economic Cooperation and Development are among summit delegates.
South Africa’s International Relations and Cooperation Minister Dr Naledi Pandor and acting Minister in the Presidency Khumbudzo Ntshavheni are accompanying Ramaphosa to the summit.
– African News Agency (ANA), Editing by Stella Mapenzauswa
